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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
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Enbridge (ENB - Free Report) closed at $38.30 in the latest trading session, marking a -0.36% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.6% over the past month. This has lagged the Oils-Energy sector's gain of 2.89% and the S&P 500's gain of 4.4% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. On that day, Enbridge is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 44.19%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $37.32 billion. These results would represent year-over-year changes of +23.2% and +27.56%, respectively.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. Enbridge currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 17.24. Its industry sports an average Forward P/E of 14.47, so we one might conclude that Enbridge is trading at a premium comparatively.
Investors should also note that ENB has a PEG ratio of 2.87 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.98 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.
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Enbridge (ENB) Dips More Than Broader Markets: What You Should Know
Enbridge (ENB - Free Report) closed at $38.30 in the latest trading session, marking a -0.36% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the oil and natural gas transportation and power transmission company had gained 0.6% over the past month. This has lagged the Oils-Energy sector's gain of 2.89% and the S&P 500's gain of 4.4% in that time.
Wall Street will be looking for positivity from Enbridge as it approaches its next earnings report date. On that day, Enbridge is projected to report earnings of $0.62 per share, which would represent year-over-year growth of 44.19%.
ENB's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $37.32 billion. These results would represent year-over-year changes of +23.2% and +27.56%, respectively.
Any recent changes to analyst estimates for Enbridge should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.34% higher. Enbridge currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Enbridge is currently trading at a Forward P/E ratio of 17.24. Its industry sports an average Forward P/E of 14.47, so we one might conclude that Enbridge is trading at a premium comparatively.
Investors should also note that ENB has a PEG ratio of 2.87 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Production and Pipelines industry currently had an average PEG ratio of 3.98 as of yesterday's close.
The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ENB in the coming trading sessions, be sure to utilize Zacks.com.